Interim CEO

Interim CEO,

Definition of Interim CEO:

  1. An interim CEO is a person appointed by a company's board of directors to assume the role of the chief executive officer during a time of transition or as the result of the sudden departure of the company's previous CEO.

  2. The individual chosen by the board of directors to temporarily act as the CEO. This is done in times of change or when a CEO abruptly leaves. An interim CEO may be an internal or external candidate. The term interim remains as long as the person is not officially offered the title.

  3. These CEOs are tagged with the "interim" tag because they have not officially been given the title of full-time CEO. However, they assume full responsibility for the CEO role while in the position. Interim CEOs are often called upon to "steady the ship" in periods of great turmoil. Most often an interim CEO is hired by a company's board or shareholders. Compensation for interim CEOs will most likely be similar to a regular full-time CEO's salary and benefits.

How to use Interim CEO in a sentence?

  1. An interim chief executive officer is often named when a company loses its CEO unexpectedly.
  2. CEOs may sit on a company's board of directors, but interim CEOs might not, depending on the circumstances.
  3. A CEO is the highest-ranking executive in a company and is often the public face of the company.
  4. The duties of an interim CEO (or a full-time CEO) include acting as a top liaison between corporate operations and its shareholders and board of directors, managing significant corporate actions, and even day-to-day operations at smaller companies.

Meaning of Interim CEO & Interim CEO Definition